Investing School · Valuation Lab
Value a company yourself
Rigorous, step-by-step labs with fully worked examples — so you can actually build a DCF, compute a WACC, model projections and read an earnings call like an analyst. MIT-grade, in plain English.
Discounted Cash Flow, step by step
Build a full DCF from scratch — free cash flow, a forecast, a discount rate, a terminal value — and value a whole company end to end, with every number worked out.
WACC: the discount rate, demystified
Build the weighted average cost of capital from the ground up — cost of equity via CAPM, after-tax cost of debt, market-value weights — with a full worked example and the traps that ruin it.
Building financial projections that aren't fiction
Forecast a business driver by driver — revenue, margins, working capital, capex — and tie the three statements together so the model actually balances, with a worked mini-model and the red flags of fantasy forecasts.
How to evaluate an earnings call
What a results call really is, the four documents to read, how to weigh the numbers against the narrative, the questions great analysts ask, and a reusable checklist for separating signal from spin.